It's possible to trade profitably on the Forex, the nearly $2 trillion worldwide currency exchange market. But the odds are against you, even more so if you don't prepare and plan your trades. According to a 2014 Bloomberg report, several analyses of retail Forex trading, including one by the National Futures Association (NFA), the industry's regulatory body, concluded that more than two out of three Forex traders lose money.
This suggests that self-education and caution are recommended. Here are some approaches that may improve your odds of taking a profit.
Prepare Before You Begin Trading
Because the Forex market is highly leveraged -- as much as 50 to 1 -- it can have the same appeal as buying a lottery ticket: some small chance of making a killing. This, however, isn't trading; it's gambling, with the odds long against you.
A better way of entering the Forex market is to carefully prepare. Beginning with a practice account is helpful and risk-free. While you're trading in your practice account, read the most frequently recommended Forex trading books, among them
Currency Forecasting: A Guide to Fundamental and Technical Models of Exchange Rate Determination, by Michael R. Rosenberg is short, not too sweet and highly admired introduction to the Forex market.
Forex Strategies: Best Forex Strategies for High Profits and Reduced Risk, by Matthew Maybury is an excellent introduction to Forex trading.
The Little Book of Currency Trading: How to Make Big Profits in the World of Forex, by Kathy Lien is another concise introduction that has stood the test of time.
All three are available on Amazon. Rosenberg's book, unfortunately, is pricey, but it's widely available in public libraries. "Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude," by Mark Douglas is another good book that's available on Amazon, and, again, somewhat pricey, although the Kindle edition is not.
Use the information gained from your reading to plan your trades before plunging in. The more you change your plan, the more you end up in trouble and the less likely that elusive forex profit will end up in your pocket.
Diversify and Limit Your Risks
Two strategies that belong in every trader's arsenal are:
Diversification: Traders who execute many small traders, particularly in different markets where the correlation between markets is low, have a better chance of making a profit. Putting all your money in one big trade is always a bad idea.
Familiarize yourself with ways guaranteeing a profit on an already profitable order, such as a trailing stop, and of limiting losses using stop and limit orders. These strategies and more are covered in the recommended books. Novice traders often make the mistake of concentrating on how to win; it's even more important to understand how to limit your losses.
Be Patient
Forex traders, particularly beginners, are prone to getting nervous if a trade does not go their way immediately, or if the trade goes into a little profit they get itchy to pull the plug and walk away with a small profit that could have been a significant profit with little downside risk using appropriate risk reduction strategies.
In "On Any Given Sunday," Al Pacino reminds us that "football is a game of inches." That's a winning attitude in the Forex market as well. Remember that you are going to win some trades and lose others. Take satisfaction in the accumulation of a few more wins than losses. Over time, that could make you rich!

BACON WRAPPED JALAPEÑO PEPPERS STUFFED WITH CREAM CHEESE

You’ll love these bacon wrapped jalapeño peppers stuffed with cream cheese and shredded cheddar. Similar to jalapeño poppers except that these are low-carb, keto, and baked in the oven.

You will only need five ingredients to make this easy and fun party appetizer. I’ve been making these bacon wrapped jalapeño peppers for the past few years and they are always a winner.

I first became obsessed with jalapeño popper type appetizers during a Caribbean trip: I was staying at a resort where they made amazing fried jalapeño poppers, which were leagues better than anything else they had on the menu. I ended up ordering them literally every single day that I stayed at that resort. After I returned home, I starting making this bacon wrapped version so that I could have an easy way of making them at home without breading and frying.

I love making these bacon wrapped jalapeño peppers when my outdoor pepper garden is thriving. Last year, I had four plants that were waist high and they produced a total of about 30 jalapeño peppers. Recipes such as these stuffed jalapeño peppers and my chunky jalapeño artichoke and spinach dip are great ways to use them up.

HOW DO YOU MAKE JALAPEÑO PEPPERS LESS SPICY?

You can make jalapeño peppers less spicy by making sure to remove all seeds and membranes, which is where all of their capsaicin (that’s what makes chili peppers hot) is located. If your skin is sensitive to capsaicin — mine definitely are because I’ve had pepper hands before — then you should wear gloves while handling jalapeños.

If you can’t tolerate chili peppers at all but you still want to try these out, I recommend using mini sweet bell peppers instead of jalapeños. You might have seen them in the produce section of your grocery store — they usually come in clear packaging with various colors and are about the same size as a jalapeño.

WHAT DO YOU STUFF JALAPEÑOS WITH?

I stuff jalapeños with a simple mixture of cream cheese, cheddar cheese, and garlic powder. If you don’t have cheddar cheese but have some other kind of cheese handy, you can use that instead. Other cheeses that work well include pepper jack or Mexican blend cheeses.

When mixing cream cheese with shredded cheddar cheese, it is easiest if your cream cheese has been softened first. I usually microwave the cream cheese by itself until soft. Try 5-10 second microwave bursts until the cream cheese becomes spreadable. Alternately, you can skip the softening step and just use a hand mixer to mix the cream cheese with the cheddar.

When you’re stuffing the jalapeños, don’t over-stuff or else the cheese stuffing will slide out when baking. I usually stuff just enough to fill the pepper. If you’re using toothpicks to secure the bacon, there’s no need to wrap the bacon very tightly around each pepper. Otherwise, your baked jalapeños will end up looking like they’ve had the cheese choked out of them.

WHAT GOES WELL WITH JALAPEÑO PEPPERS?

I recommend pairing these bacon wrapped jalapeños with summer side dishes such as:

artichokes with balsamic mayo dip (includes tutorial on how to cook artichokes)

hot crab dip with cream cheese

greek salad with avocado dressing

stuffed portobello mushrooms

shrimp avocado salad

NEVER MISS A RECIPE!

Bacon Wrapped Jalapeño Peppers Stuffed with Cream Cheese

You’ll love these bacon wrapped jalapeño peppers stuffed with cream cheese and shredded cheddar. Similar to jalapeño poppers except that these are low-carb and baked in the oven.

Stuff each pepper half with the cream cheese mixture. Wrap a halved bacon slice around each pepper. Secure with a toothpick as needed.

Place the stuffed peppers in a single layer onto a baking tray.

Bake at 400 F until the cheese is starting to brown, about 20 minutes. Turn on the broiler and broil for a few minutes to crisp up the bacon. Remove from the oven and let cool for 10 minutes before serving.

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It's possible to trade profitably on the Forex, the nearly $2 trillion worldwide currency exchange market. But the odds are against you, even more so if you don't prepare and plan your trades. According to a 2014 Bloomberg report, several analyses of retail Forex trading, including one by the National Futures Association (NFA), the industry's regulatory body, concluded that more than two out of three Forex traders lose money.
This suggests that self-education and caution are recommended. Here are some approaches that may improve your odds of taking a profit.
Prepare Before You Begin Trading
Because the Forex market is highly leveraged -- as much as 50 to 1 -- it can have the same appeal as buying a lottery ticket: some small chance of making a killing. This, however, isn't trading; it's gambling, with the odds long against you.
A better way of entering the Forex market is to carefully prepare. Beginning with a practice account is helpful and risk-free. While you're trading in your practice account, read the most frequently recommended Forex trading books, among them
Currency Forecasting: A Guide to Fundamental and Technical Models of Exchange Rate Determination, by Michael R. Rosenberg is short, not too sweet and highly admired introduction to the Forex market.
Forex Strategies: Best Forex Strategies for High Profits and Reduced Risk, by Matthew Maybury is an excellent introduction to Forex trading.
The Little Book of Currency Trading: How to Make Big Profits in the World of Forex, by Kathy Lien is another concise introduction that has stood the test of time.
All three are available on Amazon. Rosenberg's book, unfortunately, is pricey, but it's widely available in public libraries. "Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude," by Mark Douglas is another good book that's available on Amazon, and, again, somewhat pricey, although the Kindle edition is not.
Use the information gained from your reading to plan your trades before plunging in. The more you change your plan, the more you end up in trouble and the less likely that elusive forex profit will end up in your pocket.
Diversify and Limit Your Risks
Two strategies that belong in every trader's arsenal are:
Diversification: Traders who execute many small traders, particularly in different markets where the correlation between markets is low, have a better chance of making a profit. Putting all your money in one big trade is always a bad idea.
Familiarize yourself with ways guaranteeing a profit on an already profitable order, such as a trailing stop, and of limiting losses using stop and limit orders. These strategies and more are covered in the recommended books. Novice traders often make the mistake of concentrating on how to win; it's even more important to understand how to limit your losses.
Be Patient
Forex traders, particularly beginners, are prone to getting nervous if a trade does not go their way immediately, or if the trade goes into a little profit they get itchy to pull the plug and walk away with a small profit that could have been a significant profit with little downside risk using appropriate risk reduction strategies.
In "On Any Given Sunday," Al Pacino reminds us that "football is a game of inches." That's a winning attitude in the Forex market as well. Remember that you are going to win some trades and lose others. Take satisfaction in the accumulation of a few more wins than losses. Over time, that could make you rich!